Company Overview - The full name of the company is Yongzhen Technology Co., Ltd., with the stock code 603381.SH, listed on the Shanghai Main Board in the electrical machinery and equipment manufacturing industry [6]. IPO Details - The IPO application date was April 4, 2023, and the listing date was June 26, 2024, with an average listing cycle of 629.45 days, while Yongzhen's cycle was 449 days, which is below the average [3]. - The underwriting and sponsorship fees amounted to 55.3994 million yuan, with a commission rate of 4.00%, lower than the average of 7.71% [4]. - The initial public offering (IPO) price resulted in a first-day stock price increase of 47.62% [5]. Performance Metrics - The company's issuance price-earnings ratio was 15.06 times, which is 88.33% of the industry average of 17.05 times [9]. - The expected fundraising amount was 1.807 billion yuan, but the actual amount raised was 1.385 billion yuan, indicating a decrease of 23.35% [10]. - In the first three months post-listing, the stock price decreased by 10.66% [8]. Financial Performance - For the year 2024, the company's operating revenue increased by 51.80% year-on-year, while the net profit attributable to the parent company decreased by 27.71%, and the net profit excluding non-recurring items dropped by 50.59% [11]. - The abandonment rate for the IPO was 0.54% [12]. Evaluation Summary - Yongzhen's IPO project received a total score of 84.5, classified as B-level. Negative factors affecting the score include the need for improved information disclosure quality, a decline in stock price over three months, a reduction in actual fundraising amount, and a decrease in net profit in the first accounting year [12].